The Cabinet nod has been given to draft the proposed Special Deposit Account Act which can grant the residency visa to foreign individuals who bring a large amount of foreign exchange into the country.

Under the proposed act individual who remits US$ 300,000 will be granted 10 years residency visa and a minimum balance of US$ 300,000 should be maintained throughout the 10 years.

“Expenses of such persons would create a demand for our products and services such as hotels, recreation and transport and encouraging them to start ventures in these countries will provide employment opportunities as well as business partners for Sri Lankans.

These visa holders will not be entitled to be employed in Sri Lanka. Accordingly, the proposal made Minister Ravi Karunanayake, to direct the Legal Draftsman to draft the proposed Special Deposit Account Act, was approved by the Cabinet of Ministers,” the govt. announced.

4 Responses to Foreigners who bring a large amount of money to get residency visa

Such large hearted and generous Biz. Magnates should not only be given life time free Visas but also be given free tax concessions for at least TEN years as security. They should also be given permission to buy our lands and bring their brigade of females to make our beautiful land a real Paradise on earth.

This is very wrong to give any visa for the value of of money. cash trap Sri Lankan government is trying all kind of tricks to sponge money from foreigners. This is the only country in the world charge extra money for hotels ,visiting national monuments and zoo etc.

This is the only country in the world require to have a paid visa from expatriates to arrive in Sri Lanka.
As long as the government and there workers fill there big fat stomachs they don’t care about others.

If these visa holders are not be entitled to be employed how can they start ventures. Of course they a demand for our products like good quality food and leave the poor quality food for our children. Just like his budget this idea want last for more than three days.